Create Your Own Employment: Part 2

Click here to read Part 1 of this post.

Creating your own business allows you better hours, greater earning potential and control over job security. Entrepreneurs often work much more than 40 hours a week at their businesses, because they have a passion to see it succeed, but this is not a necessity. Your own business allows you to use your time as efficiently as possible, set your own work hours and work as many or as few as you want. On the other hand, if you were to work for an employer, there are not very many job options in which you can work as little as 10 or even 5 hours per week and make more than minimum wage. Nor can you often work more than 40 hours, because employers would rather not pay you overtime. Additionally, because your job security depends entirely on the success of your business, it is completely under your control. You control your time, you (and the market) control your earning and you control your job security.

Keeping your business small allows you to avoid the difficulties of a complicated business structure and the hassles involved with employing others. My husband’s family owns and runs Cromar Painting, a contracting company. They have tried expanding in the past, but have found it more profitable to employ very few contractors and keep their operation simple. You can remain a sole proprietorship, never dealing with partners, incorporation and the taxes, finances, insurance, lawyers, and headache that go with all that. Less time spent on such things, means more time spent doing what you enjoy and getting paid to do so.

Click here to read Part 3 of this post.

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